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Long

DAX faces strong support at 9250, good to buy at dips

FX:GER30   DAX index of German listed shares
291 0 1
Major support – 9250 (Jan 20th low)

The index has recovered till 9551 at the time of writing after making a low of 7458. It is currently trading at 953.Minor trend is slightly bullish as long as support 9250 holds.

On the higher side minor resistance around 9600 and break above will take the index to next level around 9695/9800/9850.The major resistance is around 9830.

On the lower side minor support is around 9450 and break below targets 9380/9310.

Stoch RSI- Oversold

It is good to buy at dips around 9450-60 with SL around 9250 for the TP of 9700/9830

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